BULLION OUTLOOK FOR 09-10 MAY 2017

SELL SILVER BELOW 38030 TGT 37920/37780 SL 38180

SELL GOLD BELOW 28145 TGT 28075/28000 SL 28250

Gold: Gold trading range for the day is 27967-28299. . Technically Gold is getting support at 28029 and below same could see a test of 27967 level, And resistance is now likely to be seen at 28195, a move above could see prices testing 28299. We expect gold prices to trade sideways on the back of short covering after drop in prices.  Gold price has given the breakdown of a “Symmetrical triangle pattern” at 28700 levels on a daily chart. In addition, Gold prices have been trading below 100 EMA on a daily chart. The momentum indicator MACD has remained in negative crossover on a daily chart. Therefore, we expect the Gold price to continue moving lower towards 27700 levels.

	R2	R1	S1		S2	TREND
GOLD	28250	28180	28120		28000	Bearish

Silver: Silver trading range for the day is 37714-38436. Technically market is getting support at 37863 and below same could see a test of 37714 level, And resistance is now likely to be seen at 38224, a move above could see prices testing 38436.  We expect silver prices to trade sideways on the back of short covering after drop in prices. MCX Silver price has shown the breakdown of its “Symmetrical triangle pattern” at 41500 levels on a daily chart .In addition, MCX Silver prices have been trading below 100 EMA on a daily chart. The momentum indicator MACD has shown negative crossover on a daily chart. For now, we expect the price to move lower towards 37200 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
SILVER	38224	38080	38000		37900	Bearish

BULLION OUTLOOK FOR 08-09 MAY 2017

weekly CALL UPDATE:

GOLD HIT all TGT 28080 MADE low OF 28071!!!

silver HIT all TGT 38100 MADE low OF 38045!!!

Gold: Gold trading range for the day is 27931-28321. Technically market is under fresh selling ,now Gold is getting support at 28002 and below same could see a test of 27931 level, And resistance is now likely to be seen at 28197, a move above could see prices testing 28321. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28371 levels. Traders can initiate short positions on every rise until Gold closes above 28371 levels.

	R2	R1	S1		S2	TREND
GOLD	28371	28200	28050		27950	Bearish

Silver: Silver trading range for the day is 37485-38809. Technically market is under fresh selling , now Silver is getting support at 37751 and below same could see a test of 37485 level, And resistance is now likely to be seen at 38413, a move above could see prices testing 38809.  Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 38506  levels.

	R2	R1	S1		S2	TREND
SILVER	38500	38300	38100		37900	Bearish

WEEKLY BULLION OUTLOOK FOR 08-12 MAY 2017

yesterday’s CALL UPDATE:

GOLD ALMOST HIT TGT 28000 !!

silver ALMOST HIT FINAL TGT 37500 !!

SELL GOLD 28200 SL 28350 TGT 28080-27900.

SELL SILVER 38400 SL 38650 TGT 38100-37800.

Gold: Gold trading range for the day is 27803-28505. Technically market is under fresh selling, now Gold is getting support at 27937 and below same could see a test of 27803 level, And resistance is now likely to be seen at 28288, a move above could see prices testing 28505. Gold price has given the breakdown of its “Rising Channel” pattern at 29000 levels on a daily chart. In addition, Gold prices have been trading below 100 EMA on a daily chart. The momentum indicator MACD has shown negative crossover on a daily chart. Therefore, we expect the Gold price to move lower towards 27700 levels.

	R2	R1	S1		S2	TREND
GOLD	28350	28250	28150		28000	BEARISH

Silver: Silver trading range for the day is 37383-38941. Technically now Silver is getting support at 37718 and below same could see a test of 37383 level, And resistance is now likely to be seen at 38497, a move above could see prices testing 38941. MCX Silver price has shown the breakdown of its symmetrical triangle pattern 40500 levels on a daily chart. On a daily chart, Silver price has given breakdown if its rising trend line at 41750 levels. In addition, Silver prices have been trading below 100 EMA on a daily chart. The momentum indicator MACD has shown negative crossover on a daily chart. For now, we expect the price to move lower towards 37200 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
SILVER	38800	38500	38300		38000	BEARISH

BULLION OUTLOOK FOR 04-05 MAY 2017

SELL GOLD @ 28200 SL 28350 TGT 28000-27850.

 SELL SILVER @ 38100 SL 38500 TGT 37800-37500.

Gold: Gold trading range for the day is 28502-28686. Technically market is getting support at 28542 and below same could see a test of 28502 level, And resistance is now likely to be seen at 28634, a move above could see prices testing 28686. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28723 levels. Traders can initiate short positions on every rise until Gold closes above 28723 levels.

	R2	R1	S1		S2	TREND
GOLD	28700	28500	28200		28000	BEARISH

Silver: Silver trading range for the day is 38734-39664. Technically market is getting support at 38900 and below same could see a test of 38734 level, And resistance is now likely to be seen at 39365, a move above could see prices testing 39664. Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 39032  levels. 

	R2	R1	S1		S2	TREND
SILVER	38800	38500	38300		38000	BEARISH

BULLION OUTLOOK FOR 03-04 APRIL 2017

BUY GOLD @ 28600 SL 28800 TGT 28400-28300.

 BUY SILVER @ 38600 SL 40000 TGT 38500-38400.

Gold: Gold trading range for the day is 28502-28686. Technically market is getting support at 28542 and below same could see a test of 28502 level, And resistance is now likely to be seen at 28634, a move above could see prices testing 28686. Gold price has given breakdown of its “Rising Channel” pattern at 29000 levels on a daily chart. In addition, MCX Gold prices have been trading below 50 EMA on a daily chart. The momentum indicator MACD has shown negative crossover on the a daily chart. Therefore, we expect the Gold price to move lower towards 28300 levels.

	R2	R1	S1		S2	TREND
GOLD	29000	28800	28600		28400	BULLISH

Silver: Silver trading range for the day is 38734-39664. Technically market is getting support at 38900 and below same could see a test of 38734 level, And resistance is now likely to be seen at 39365, a move above could see prices testing 39664. On a daily chart, Silver price has given breakdown if its rising trend line at 41750 levels. In addition, MCX Silver prices have been trading below 50 EMA on a daily chart. The momentum indicator MACD has shown negative crossover on the a daily chart. For now, we expect the price to move lower towards 38000 levels in the coming trading sessions.

	R2	R1	S1		S2	TREND
SILVER	40200	40000	38900		38700	BULLISH

BULLION OUTLOOK FOR 02-03 MAY 2017

WEEKLY CALL UPDATE:

GOLD HIT TGT 28600 GIVEN AT 28850

SILVER HIT ALL TGT 39200 GIVEN AT 40000

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Gold: Gold trading range for the day is 28649-28877. Technically market is under short covering, now Gold is getting support at 28709 and below same could see a test of 28649 level, And resistance is now likely to be seen at 28823, a move above could see prices testing 28877. Gold is trading into negative zone and traders can hold short positions until Gold closes above 28992 levels. Traders can initiate short positions on every rise until Gold closes above 28992 levels. 

	R2	R1	S1		S2	TREND
GOLD	28992	28650	28500		28600	BULLISH

Silver: Silver trading range for the day is 39332-40256. Technically market is under long liquidation, now Silver is getting support at 39501 and below same could see a test of 39332 level, And resistance is now likely to be seen at 39963, a move above could see prices testing 40256. Silver is trading into negative zone and traders can go short at every rise or hold short positions until Silver closes above 39620  levels.

	R2	R1	S1		S2	TREND
SILVER	39200	39000	38800		38500	BULLISH